Dallah Healthcare net profit surges to SAR 99.9 mln in H1 2021

09/08/2021 Argaam Exclusive

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Dallah Healthcare Co. reported a net profit after Zakat and tax of SAR 99.9 million for H1 2021, a significant rise from SAR 26.2 million in the same period last year.

The profit rise was attributed to higher operating revenues, increase in the utilization ratios of Dallah Namar Hospital, and a rise in the group’s revenues and operations following the acquisition of majority of shares of Cares Shield Holding Co. and Makkah Medical Center Co.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	562.17	985.50	75.3 %
Gross Income	173.53	345.00	98.8 %
Operating Income	34.39	141.49	311.4 %
Net Income	26.24	100.15	281.8 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.29	1.11	281.8 %

The second-quarter net profit soared to SAR 47.3 million from SAR 7 million in Q2 2020.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	247.56	490.83	98.3 %
Gross Income	67.77	168.17	148.1 %
Operating Income	7.97	68.57	760.1 %
Net Income	6.99	47.54	579.9 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.08	0.53	579.9 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	494.67	490.83	(0.8 %)
Gross Income	176.82	168.17	(4.9 %)
Operating Income	72.91	68.57	(6.0 %)
Net Income	52.61	47.54	(9.6 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.58	0.53	(9.6 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2012	154.04	18.5 %	72.82	46.5 %	37.96	7.7 %	0.42
Q2 2012	161.32	15.8 %	73.73	45.0 %	37.09	36.7 %	0.41
Q3 2012	142.26	23.2 %	59.00	57.9 %	23.94	54.5 %	0.27
Q4 2012	179.43	25.8 %	81.51	56.9 %	34.37	(3.3 %)	0.38
2012	636.86	20.8 %	286.87	51.1 %	133.36	17.6 %	1.48
Q1 2013	183.73	19.3 %	84.40	15.9 %	39.04	2.8 %	0.43
Q2 2013	187.79	16.4 %	80.68	9.4 %	23.64	(36.3 %)	0.26
Q3 2013	167.08	17.4 %	66.67	13.0 %	21.84	(8.7 %)	0.24
Q4 2013	211.05	17.6 %	95.71	17.4 %	52.11	51.6 %	0.58
2013	749.65	17.7 %	327.45	14.1 %	136.63	2.5 %	1.52
Q1 2014	207.57	13.0 %	87.60	3.8 %	40.50	3.7 %	0.45
Q2 2014	219.45	16.9 %	93.78	16.2 %	34.33	45.2 %	0.38
Q3 2014	192.79	15.4 %	75.36	13.0 %	21.94	0.5 %	0.24
Q4 2014	240.08	13.8 %	103.54	8.2 %	50.35	(3.4 %)	0.56
2014	858.75	14.6 %	358.57	9.5 %	147.12	7.7 %	1.63
Q1 2015	240.40	15.8 %	102.13	16.6 %	47.82	18.1 %	0.53
Q2 2015	245.23	11.7 %	100.89	7.6 %	35.86	4.4 %	0.40
Q3 2015	223.93	16.2 %	87.92	16.7 %	26.78	22.1 %	0.30
Q4 2015	276.50	15.2 %	116.81	12.8 %	54.60	8.4 %	0.61
2015	985.44	14.8 %	407.14	13.5 %	165.06	12.2 %	1.83
Q1 2016	285.03	18.6 %	132.53	29.8 %	58.07	21.4 %	0.65
Q2 2016	288.35	17.6 %	129.78	28.6 %	54.14	51.0 %	0.60
Q3 2016	273.17	22.0 %	122.38	39.2 %	60.80	127.0 %	0.68
Q4 2016	316.24	14.4 %	151.01	29.3 %	51.71	(5.3 %)	0.57
2016	1,162.79	18.0 %	535.70	31.6 %	224.71	36.1 %	2.50
Q1 2017	302.75	6.2 %	143.60	8.4 %	85.05	46.5 %	0.94
Q2 2017	288.20	0.0 %	130.48	0.5 %	69.99	29.3 %	0.78
Q3 2017	295.25	8.1 %	136.77	11.8 %	76.82	26.3 %	0.85
Q4 2017	325.87	3.0 %	148.23	(1.8 %)	63.12	22.1 %	0.70
2017	1,212.08	4.2 %	559.08	4.4 %	294.98	31.3 %	3.28
Q1 2018	308.59	1.9 %	131.73	(8.3 %)	58.09	(31.7 %)	0.65
Q2 2018	273.13	(5.2 %)	92.38	(29.2 %)	18.73	(73.2 %)	0.21
Q3 2018	280.94	(4.8 %)	101.37	(25.9 %)	32.48	(57.7 %)	0.36
Q4 2018	318.28	(2.3 %)	110.86	(25.2 %)	32.47	(48.6 %)	0.36
2018	1,180.94	(2.6 %)	436.34	(22.0 %)	141.76	(51.9 %)	1.58
Q1 2019	321.15	4.1 %	120.26	(8.7 %)	35.17	(39.5 %)	0.39
Q2 2019	286.00	4.7 %	92.46	0.1 %	15.35	(18.1 %)	0.17
Q3 2019	301.34	7.3 %	107.78	6.3 %	26.62	(18.1 %)	0.30
Q4 2019	343.60	8.0 %	127.34	14.9 %	69.79	115.0 %	0.78
2019	1,252.09	6.0 %	447.85	2.6 %	146.92	3.6 %	1.63
Q1 2020	314.61	(2.0 %)	105.76	(12.1 %)	19.24	(45.3 %)	0.21
Q2 2020	247.56	(13.4 %)	67.77	(26.7 %)	6.99	(54.4 %)	0.08
Q3 2020	350.79	16.4 %	132.62	23.0 %	53.78	102.1 %	0.60
Q4 2020	405.30	18.0 %	143.57	12.7 %	51.98	(25.5 %)	0.58
2020	1,318.25	5.3 %	449.73	0.4 %	132.00	(10.2 %)	1.47
Q1 2021	494.67	57.2 %	176.82	67.2 %	52.61	173.4 %	0.58
Q2 2021	490.83	98.3 %	168.17	148.1 %	47.54	579.9 %	0.53

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2011	527.34	11.6 %	189.89	11.8 %	113.40	20.0 %	1.26
2012	636.86	20.8 %	286.87	51.1 %	133.36	17.6 %	1.48
2013	749.65	17.7 %	327.45	14.1 %	136.63	2.5 %	1.52
2014	858.75	14.6 %	358.57	9.5 %	147.12	7.7 %	1.63
2015	985.44	14.8 %	407.14	13.5 %	165.06	12.2 %	1.83
2016	1,162.79	18.0 %	535.70	31.6 %	224.71	36.1 %	2.50
2017	1,212.08	4.2 %	559.08	4.4 %	294.98	31.3 %	3.28
2018	1,180.94	(2.6 %)	436.34	(22.0 %)	141.76	(51.9 %)	1.58
2019	1,252.09	6.0 %	447.85	2.6 %	146.92	3.6 %	1.63
2020	1,318.25	5.3 %	449.73	0.4 %	132.00	(10.2 %)	1.47

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	38.63 %	24.79 %	21.67 %
Q2 2012	41.14 %	25.88 %	22.58 %
Q3 2012	42.90 %	25.84 %	22.97 %
Q4 2012	45.06 %	25.05 %	20.93 %
2012	45.04 %	25.06 %	20.94 %
Q1 2013	44.79 %	24.18 %	20.16 %
Q2 2013	44.08 %	22.36 %	17.45 %
Q3 2013	43.63 %	21.80 %	16.56 %
Q4 2013	43.68 %	23.30 %	18.23 %
2013	43.68 %	23.16 %	18.23 %
Q1 2014	42.75 %	23.14 %	17.85 %
Q2 2014	42.69 %	22.94 %	18.48 %
Q3 2014	42.42 %	22.43 %	17.92 %
Q4 2014	41.90 %	22.11 %	17.11 %
2014	41.76 %	22.14 %	17.13 %
Q1 2015	41.98 %	21.38 %	15.76 %
Q2 2015	41.58 %	21.72 %	15.48 %
Q3 2015	41.54 %	21.77 %	15.49 %
Q4 2015	41.35 %	21.81 %	15.34 %
2015	41.32 %	22.03 %	15.35 %
Q1 2016	42.51 %	23.29 %	17.20 %
Q2 2016	43.49 %	24.24 %	18.50 %
Q3 2016	44.66 %	25.57 %	19.88 %
Q4 2016	46.07 %	24.94 %	19.47 %
2016	46.07 %	24.94 %	19.47 %
Q1 2017	46.32 %	26.38 %	21.29 %
Q2 2017	46.38 %	27.68 %	22.38 %
Q3 2017	46.73 %	29.19 %	24.08 %
Q4 2017	46.13 %	30.34 %	25.30 %
2017	46.13 %	30.34 %	25.30 %
Q1 2018	44.93 %	28.26 %	22.97 %
Q2 2018	42.33 %	24.50 %	18.99 %
Q3 2018	39.86 %	21.41 %	15.49 %
Q4 2018	36.95 %	18.60 %	12.00 %
2018	36.95 %	18.60 %	12.00 %
Q1 2019	35.60 %	17.66 %	9.96 %
Q2 2019	35.23 %	17.77 %	9.57 %
Q3 2019	35.16 %	17.58 %	8.93 %
Q4 2019	35.77 %	19.73 %	10.66 %
2019	35.77 %	19.73 %	10.66 %
Q1 2020	34.79 %	18.58 %	9.44 %
Q2 2020	33.85 %	18.13 %	9.05 %
Q3 2020	34.50 %	19.13 %	9.55 %
Q4 2020	34.12 %	16.71 %	6.13 %
2020	34.12 %	16.71 %	6.13 %
Q1 2021	34.76 %	18.09 %	7.62 %
Q2 2021	35.67 %	19.32 %	8.88 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2011	36.01 %	24.05 %	22.15 %
2012	45.04 %	25.06 %	20.94 %
2013	43.68 %	23.16 %	18.23 %
2014	41.76 %	22.14 %	17.13 %
2015	41.32 %	22.03 %	15.35 %
2016	46.07 %	24.94 %	19.47 %
2017	46.13 %	30.34 %	25.30 %
2018	36.95 %	18.60 %	12.00 %
2019	35.77 %	19.73 %	10.66 %
2020	34.12 %	16.71 %	6.13 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	47.27 %	29.16 %	24.64 %
Q2 2012	45.71 %	28.00 %	22.99 %
Q3 2012	41.48 %	20.83 %	16.83 %
Q4 2012	45.43 %	22.23 %	19.16 %
Q1 2013	45.94 %	25.32 %	21.25 %
Q2 2013	42.96 %	20.75 %	12.59 %
Q3 2013	39.90 %	18.63 %	13.07 %
Q4 2013	45.35 %	27.52 %	24.69 %
Q1 2014	42.20 %	24.47 %	19.51 %
Q2 2014	42.73 %	20.38 %	15.64 %
Q3 2014	39.09 %	16.97 %	11.38 %
Q4 2014	43.13 %	25.78 %	20.97 %
Q1 2015	42.48 %	21.43 %	14.17 %
Q2 2015	41.14 %	21.75 %	14.62 %
Q3 2015	39.26 %	17.88 %	11.96 %
Q4 2015	42.25 %	25.38 %	19.75 %
Q1 2016	46.50 %	26.86 %	21.08 %
Q2 2016	45.01 %	25.49 %	19.84 %
Q3 2016	44.80 %	24.50 %	18.81 %
Q4 2016	47.75 %	23.08 %	18.25 %
Q1 2017	47.43 %	32.36 %	28.09 %
Q2 2017	45.27 %	30.84 %	24.28 %
Q3 2017	46.32 %	30.89 %	26.02 %
Q4 2017	45.49 %	27.52 %	22.96 %
Q1 2018	42.69 %	24.11 %	18.82 %
Q2 2018	33.82 %	14.42 %	6.86 %
Q3 2018	36.08 %	18.15 %	11.56 %
Q4 2018	34.83 %	17.24 %	10.20 %
Q1 2019	37.45 %	20.42 %	10.95 %
Q2 2019	32.33 %	15.01 %	5.37 %
Q3 2019	35.77 %	17.35 %	8.83 %
Q4 2019	37.06 %	25.11 %	16.42 %
Q1 2020	33.62 %	15.88 %	6.12 %
Q2 2020	27.38 %	12.22 %	2.82 %
Q3 2020	37.81 %	21.04 %	10.67 %
Q4 2020	35.42 %	16.33 %	4.22 %
Q1 2021	35.75 %	20.37 %	10.64 %
Q2 2021	34.26 %	19.51 %	9.69 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2012	90.00	1.29	1.33	5.66
Q2 2012	90.00	1.40	1.44	6.04
Q3 2012	90.00	1.49	1.53	6.31
Q4 2012	90.00	1.48	1.48	12.40
Q1 2013	90.00	1.49	1.49	12.83
Q2 2013	90.00	1.34	1.34	12.37
Q3 2013	90.00	1.32	1.32	12.64
Q4 2013	90.00	1.52	1.52	13.22
Q1 2014	90.00	1.53	1.53	13.75
Q2 2014	90.00	1.65	1.65	13.36
Q3 2014	90.00	1.65	1.65	13.65
Q4 2014	90.00	1.63	1.63	14.15
Q1 2015	90.00	1.72	1.56	14.74
Q2 2015	90.00	1.73	1.58	14.63
Q3 2015	90.00	1.79	1.63	14.86
Q4 2015	90.00	1.83	1.68	15.48
Q1 2016	90.00	1.95	1.97	16.15
Q2 2016	90.00	2.15	2.21	15.76
Q3 2016	90.00	2.53	2.48	16.26
Q4 2016	90.00	2.50	2.52	16.85
Q1 2017	90.00	2.80	2.79	17.78
Q2 2017	90.00	2.97	2.93	17.24
Q3 2017	90.00	3.15	3.22	18.05
Q4 2017	90.00	3.28	3.41	18.80
Q1 2018	90.00	2.98	3.11	19.41
Q2 2018	90.00	2.41	2.54	17.98
Q3 2018	90.00	1.92	2.05	18.34
Q4 2018	90.00	1.58	1.58	17.79
Q1 2019	90.00	1.32	1.32	18.07
Q2 2019	90.00	1.28	1.28	16.24
Q3 2019	90.00	1.22	1.22	16.54
Q4 2019	90.00	1.63	1.48	16.91
Q1 2020	90.00	1.46	1.31	16.57
Q2 2020	90.00	1.36	1.21	16.65
Q3 2020	90.00	1.66	1.33	17.25
Q4 2020	90.00	1.47	0.90	19.94
Q1 2021	90.00	1.84	1.27	19.89
Q2 2021	90.00	2.29	1.72	20.42

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2011	90.00	1.26	1.30	5.21
2012	90.00	1.48	1.48	12.40
2013	90.00	1.52	1.52	13.22
2014	90.00	1.63	1.63	14.15
2015	90.00	1.83	1.68	15.48
2016	90.00	2.50	2.52	16.85
2017	90.00	3.28	3.41	18.80
2018	90.00	1.58	1.58	17.79
2019	90.00	1.63	1.48	16.91
2020	90.00	1.47	0.90	19.94

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	25.26	25.26	3.02
Q1 2013	23.15	23.15	2.70
Q2 2013	26.26	26.26	2.85
Q3 2013	26.93	26.93	2.82
Q4 2013	26.15	26.15	3.00
Q1 2014	33.02	33.02	3.69
Q2 2014	33.91	33.91	4.19
Q3 2014	43.67	43.67	5.29
Q4 2014	45.25	45.25	5.23
Q1 2015	40.15	44.08	4.67
Q2 2015	45.84	50.27	5.43
Q3 2015	32.29	35.31	3.88
Q4 2015	27.26	29.73	3.23
Q1 2016	27.46	27.14	3.31
Q2 2016	28.54	27.81	3.89
Q3 2016	21.29	21.71	3.31
Q4 2016	27.05	26.85	4.01
Q1 2017	25.95	25.99	4.08
Q2 2017	26.81	27.16	4.62
Q3 2017	24.63	24.12	4.30
Q4 2017	21.93	21.10	3.82
Q1 2018	24.80	23.77	3.80
Q2 2018	28.42	26.97	3.81
Q3 2018	22.92	21.46	2.39
Q4 2018	25.39	25.39	2.25
Q1 2019	32.81	32.81	2.40
Q2 2019	34.90	34.90	2.76
Q3 2019	36.10	36.10	2.66
Q4 2019	25.93	28.53	2.50
Q1 2020	28.43	31.66	2.50
Q2 2020	31.13	34.94	2.55
Q3 2020	30.78	38.40	2.97
Q4 2020	35.71	58.36	2.63
Q1 2021	31.13	45.10	2.88
Q2 2021	37.67	50.14	4.22

Period	P/E	Adjusted P/E	Price/book
2011	-	-	-
2012	25.26	25.26	3.02
2013	26.15	26.15	3.00
2014	45.25	45.25	5.23
2015	27.26	29.73	3.23
2016	27.05	26.85	4.01
2017	21.93	21.10	3.82
2018	25.39	25.39	2.25
2019	25.93	28.53	2.50
2020	35.71	58.36	2.63

Business Segments (Million)

Compared With The

Period	Medical Services	Medicine and Pharmaceutical Products
Q1 2012	141.87	12.17
Q2 2012	148.75	12.57
Q3 2012	133.35	8.91
Q4 2012	163.03	16.20
Q1 2013	169.97	13.76
Q2 2013	168.24	19.56
Q3 2013	158.17	8.92
Q4 2013	192.80	18.25
Q1 2014	195.44	12.12
Q2 2014	201.76	17.69
Q3 2014	177.26	15.52
Q4 2014	223.36	16.72
Q1 2015	224.02	16.38
Q2 2015	228.38	16.85
Q3 2015	215.41	8.52
Q4 2015	257.40	18.49
Q1 2016	276.15	8.88
Q2 2016	277.42	10.93
Q3 2016	265.04	8.13
Q4 2016	307.51	8.73
Q1 2017	239.94	62.81
Q2 2017	229.31	58.90
Q3 2017	235.08	60.17
Q4 2017	241.44	84.43
Q1 2018	236.76	71.84
Q2 2018	205.73	67.39
Q3 2018	218.43	62.50
Q4 2018	228.74	89.55
Q1 2019	239.22	81.93
Q2 2019	210.95	75.06
Q3 2019	232.55	68.79
Q4 2019	259.40	84.20
Q1 2020	227.83	86.77
Q2 2020	166.96	80.60
Q3 2020	260.50	90.30
Q4 2020	309.74	95.55
Q1 2021	378.70	115.97
Q2 2021	374.54	116.29

Period	Medical Services	Medicine and Pharmaceutical Products
2011	495.70	31.64
2012	587.00	49.85
2013	689.17	60.48
2014	797.83	62.05
2015	925.20	60.24
2016	1,126.12	36.67
2017	945.78	266.30
2018	889.66	291.28
2019	942.12	309.97
2020	965.03	353.22

Analysts Estimates (Million)

Item	Q2 2021 (e)	Q2 2021 (a)	Change‬
Average	57.60	47.54	(17.5 %)

Estimates vs Actual (Million)

Item	Q2 2021 (e)	Q2 2021 (a)	Change
AlJazira Capital	53.60	47.54	(11.3) %
OSOOL AND BAKHEET	57.20	47.54	(16.9) %
Al Rajhi Capital	62.00	47.54	(23.3) %

Financial Ratios

	Current
Market Cap (M Riyal)	15,238.08
Enterprise Value (EV) (M)	17,141.56
Shares Outstanding ((M))	97.68
EPS ( Riyal) (TTM)	3.94
Book Value (BV) ( Riyal)	34.02
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	39.60
P/E (TTM)	39.60
Price/book	4.59
Return on Average Assets (%) (TTM)	6.2
Return on Average Equity (%) (TTM)	11.9

Dallah Healthcare Co. (DALLAH HEALTH)

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Dallah Healthcare net profit surges to SAR 99.9 mln in H1 2021

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2021 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Dallah Healthcare Co. (DALLAH HEALTH)

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Dallah Healthcare net profit surges to SAR 99.9 mln in H1 2021

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2021

Revenue by Business Segment (Latest) 2021 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Dallah Healthcare Co. (DALLAH HEALTH)

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Business Segments (Million)